The new Looking for Group feature has been out for a long enough time now for me to lay down my verdict on its usefulness. I haven’t used it enough to get the companion pet but I have run enough Heroics at this point to get lots of new gear on two of my characters. After dozens of runs across both of them I can safely say the new LFG is the greatest addition to this game in a long time.
Keep in mind that I’m almost 100% strictly a 5-man Heroic player in a guild with limited player activity so this tool is perfect for someone like me. It allows me to jump on at almost any time of the day and find something to do. While the queue times for a DPS class seem to be between five and ten minutes in my Battlegroup, on my Healer I’m seeing queue times measured in seconds and not minutes. It’s never been hard to find a group on my server as a Healer but it wasn’t unheard of to have to wait for 30 or more minutes as a DPS class. Now that the new LFG is composing groups out of players from multiple realms that long wait has been eliminated from the game and I couldn’t be happier.